Treasurer's Report for financial year January-December 1994 This is my first report as Treasurer of ALLC, and I should begin by paying tribute to my predecessor, John Roper. He gave distinguished service to the Association in his many years - in two separate terms - in the office of Treasurer, and it is entirely appropriate that the Association has seen fit to award Honorary Membership to him, as reported elsewhere. John has left the finances of the Association in a very sound condition. This arises principally from the successful operation of the arrangements with Oxford University Press with regard to the Journal. Under the agreement the Association receives a percentage of the profits from the Journal, and although there is always concern to increase the numbers of subscribers, this is currently an important source of income for the Association. With the change of Treasurer has come a change of bankers, and at the Association meetings in Santa Barbara, the Bank of Scotland were formally appointed as the Association's bankers. For the time being the main interest-earning account will be left with the Scarborough Building Society. John's policy of keeping as much of the balance as possible in the Building Society account will be continued, to maximise interest. Income and Expenditure account Year to 31 December 1994 Income 1994 1993 Subscription/Oxford University Press £6,416.00 £5,854.00 Midland Bank Interest 6.21 140.59 Bank Interest (Bank of Scotland/Midland) 324.87 80 Scarborough Building Society Interest 449.06 361.76 Total income 6,871.27 4,802.35 Expenditure Officers' Secretarial Expenses 71.28 100.00 Travel and fees 600.00 889.41 Bursaries 0.00 0.00 Other expenses 0.00 0.00 Total expenditure 671.28 989.41 Surplus of Income over Expenditure 6,199.99 3,812.94 Balance Sheet At 31 December 1994 Accumulated Funds 1994 1993 Balance at bank on January 1st 19,837.93 16,024.99 Surplus of income over expenditure 6,199.99 3,812.94 26,037.92 19,837.93 Represented by: Current assets Cash at bank-current account 127.10 4,476.17 Scarborough Building Society 25,910.82 15,361.76 Cash in hand 0.00 0.00 Total current assets 26,037.92 19,837.93 Less: current liabilities 0.00 0.00 26,037.92 19,837.93

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